Riverbed Helps Financial Services Organizations Transform For The Future
Don’t let poor performance and visibility get in the way of success. Read how Riverbed is helping Financial Services organizations embrace technology and transform themselves into the banks of the future.
The fundamental definition of how customers experience and interact with a bank is being challenged and redefined by its technology. The direction that banks take is being guided by wider macro trends, driven in part by changing customer demand for rich omni-channel interaction, new non-banking players taking a share of the market through new ‘open banking’ services, and post-crash pressure to grow new revenue streams while simultaneously cutting costs.
But what happens if, in the process of adopting innovation, the very thing that should be taking the organization forward, instead, holds it back?
For banking customers to fully embrace innovation and deliver the greatest value, it’s critical that they understand the potential impacts of new technology on the network infrastructure and how it affects user experience, as well as having the right information and resources to deliver transformational initiatives while mitigating any potential disruption. To do this, it’s important to look beyond the pressures that are driving digitalization in the business to the role of IT in enabling successful transformation, and how operational challenges can be turned into real opportunities for growth.
Take for example, a bank that wants to provide the best advice to its customer. To do this, the bank needs insight into that customer such as their account history but also their investment and spending preferences and financial conditions. More often consumer understanding is based on multiple sources of data. For example, big data analytics for customer services requires combined insights from large amounts of structured and unstructured data, gathered from multiple sources and applications across their own and 3rd party networks. This large movement of data, and the ability to process it relies heavily on optimized, highly available networks. The applications running on the network need to be performing at their optimum and not impacting on other critical traffic coming from many possible sources such as end-user devices, cloud providers, public internet, remote office, and data centers.
For the IT team, this means providing secure, highly available network, and application connectivity and optimization. It means efficiently integrating applications and APIs with 3rd party technology. And it means ensuring performance not only across the network but for any end-users interacting via a myriad of devices to complex hybrid application environments.
So how do you balance the needs of the business with IT? What needs to be taken into account? Consider a few scenarios:
- If changes are being made to employee applications, for example for branch personnel to better engage customers, how do businesses know if they are successful and measure productivity or experience? And what about if these applications are being used in very remote locations or branch environments where IT operations and support is more expensive to deliver? How do banks get the insight into how they are performing?
- If financial services organizations are looking to merge their own and 3rd party services through an API layer, integrating applications and workflows, how do they get a confident understanding of their requirements for network connectivity, data processing, application performance, etc? And how do they monitor and measure the end-user experience when third-parties are involved? The customer experience is often a critical success factor for API adoption as business requirements are often driven by consumerization – users expecting to be able to access services instantly as they can in other area of their digital lives.
- If retail branches are being modernized and staff need training, is there enough bandwidth to ensure advisory documents and videos get delivered? What are the risks that content may be delayed or not reach the branches? How will this be tracked? What about other bandwidth and rich media requirements, for example ATM kiosks, digital signage and customer Wi-Fi? What changes in local application infrastructure will need to be supported?
- And finally, how do banks make sure there is alignment across IT and other lines of business, and IT transparency and insight in the context of the wider organization which is then reflected in a more agile infrastructure that responds to business change?
Riverbed provides the capabilities to give financial businesses the infrastructure performance control they need: helping IT teams better understand the dependencies of their systems, how the adoption of new technology changes infrastructure performance and requirements, what the behaviors and perception of applications and networks are – especially when it comes to the end-user experience. And, if there are problems, quickly identifying where the root of those issues lie to ensure they can be fixed quickly. The ability to understand performance is complemented by the ability to enhance IT performance in critical areas such as branch IT operations, secure WAN operations, mobile employee applications, and cloud services.
By optimizing the network to improve performance and providing this level of operational performance control and agility, both at the head offices and at remote or branch locations, financial services organizations can fully embrace the latest platforms, applications and services they need to enhance the user experience, drive new revenue, respond to regulatory change and disrupt the market through new digital products and services.
To find out how Riverbed technology can help you support your banking customers embrace innovation whilst also getting the performance, visibility and control their IT teams demand, visit the Riverbed Partner Center.